BNY Mellon New York AMT-Free Municipal Bond Fund (PSNYX)
The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal, New York State and New York City income taxes and the federal alternative minimum tax. It invests at least 70% of its assets in municipal bonds rated, at the time of purchase, investment grade or the unrated equivalent as determined by the fund's sub-adviser.
Fund Info
| ISIN | US05588G3011 |
|---|---|
| CUSIP | 05588G301 |
| Issuer | BNY Mellon |
| Inception Date | Dec 30, 1986 |
| Category | Municipal Bonds |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
PSNYX features an expense ratio of 0.79%, falling within the medium range.
Share Price Chart
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Popular comparisons: PSNYX vs. PL
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in BNY Mellon New York AMT-Free Municipal Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
BNY Mellon New York AMT-Free Municipal Bond Fund had a return of 2.24% year-to-date (YTD) and 6.75% in the last 12 months. Over the past 10 years, BNY Mellon New York AMT-Free Municipal Bond Fund had an annualized return of 1.81%, while the S&P 500 had an annualized return of 11.39%, indicating that BNY Mellon New York AMT-Free Municipal Bond Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.24% | 25.48% |
| 1 month | -0.19% | 2.14% |
| 6 months | 1.76% | 12.76% |
| 1 year | 6.75% | 33.14% |
| 5 years (annualized) | 0.52% | 13.96% |
| 10 years (annualized) | 1.81% | 11.39% |
Monthly Returns
The table below presents the monthly returns of PSNYX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.14% | 0.13% | 0.07% | -0.97% | 0.02% | 1.40% | 0.74% | 0.69% | 0.86% | -1.21% | 2.24% | ||
| 2023 | 2.79% | -2.15% | 1.96% | -0.30% | -0.16% | 0.96% | 0.22% | -1.11% | -2.78% | -1.33% | 5.89% | 2.09% | 5.91% |
| 2022 | -2.71% | -0.64% | -3.08% | -2.92% | 1.02% | -2.47% | 2.51% | -2.25% | -3.89% | -0.93% | 4.71% | -0.02% | -10.49% |
| 2021 | 0.97% | -1.53% | 0.74% | 0.91% | 0.63% | 0.39% | 0.63% | -0.39% | -0.80% | -0.23% | 0.78% | -0.07% | 2.01% |
| 2020 | 1.80% | 1.42% | -4.35% | -2.48% | 2.91% | 1.30% | 1.41% | -0.33% | -0.26% | -0.21% | 1.80% | 0.19% | 3.01% |
| 2019 | 0.78% | 0.55% | 1.59% | 0.43% | 1.56% | 0.26% | 0.69% | 1.92% | -0.83% | -0.18% | 0.20% | 0.09% | 7.27% |
| 2018 | -1.03% | -0.67% | 0.15% | -0.45% | 1.13% | 0.14% | 0.16% | 0.08% | -0.82% | -0.73% | 0.57% | 1.14% | -0.37% |
| 2017 | 0.45% | 0.62% | 0.24% | 0.69% | 1.66% | -0.19% | 0.56% | 0.69% | -0.26% | 0.09% | -0.59% | 1.02% | 5.08% |
| 2016 | 1.10% | 0.11% | 0.44% | 0.82% | 0.50% | 1.73% | -0.38% | 0.23% | -0.56% | -1.28% | -4.09% | 1.27% | -0.23% |
| 2015 | 1.80% | -1.21% | 0.41% | -0.69% | -0.30% | -0.13% | 0.87% | 0.32% | 0.52% | 0.31% | 0.59% | 0.92% | 3.43% |
| 2014 | 1.86% | 1.32% | 0.21% | 1.10% | 1.44% | 0.06% | 0.06% | 1.35% | 0.05% | 0.59% | 0.17% | 0.75% | 9.32% |
| 2013 | 0.71% | 0.36% | -0.73% | 1.10% | -1.25% | -3.07% | -0.90% | -1.95% | 1.84% | 0.84% | -0.55% | -0.68% | -4.30% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PSNYX is 44, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for BNY Mellon New York AMT-Free Municipal Bond Fund (PSNYX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
BNY Mellon New York AMT-Free Municipal Bond Fund provided a 2.64% dividend yield over the last twelve months, with an annual payout of $0.36 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.36 | $0.35 | $0.34 | $0.33 | $0.37 | $0.38 | $0.39 | $0.39 | $0.42 | $0.45 | $0.47 | $0.46 |
Dividend yield | 2.64% | 2.56% | 2.56% | 2.19% | 2.41% | 2.53% | 2.70% | 2.63% | 2.84% | 3.01% | 3.15% | 3.27% |
Monthly Dividends
The table displays the monthly dividend distributions for BNY Mellon New York AMT-Free Municipal Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.30 | |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2018 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.39 |
| 2017 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
| 2016 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.42 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.45 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.47 |
| 2013 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the BNY Mellon New York AMT-Free Municipal Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the BNY Mellon New York AMT-Free Municipal Bond Fund was 15.53%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current BNY Mellon New York AMT-Free Municipal Bond Fund drawdown is 3.77%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.53% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -13.25% | Sep 11, 2008 | 26 | Oct 16, 2008 | 143 | May 13, 2009 | 169 |
| -12.62% | Feb 1, 1994 | 210 | Nov 21, 1994 | 102 | Apr 12, 1995 | 312 |
| -11.66% | Mar 10, 2020 | 9 | Mar 20, 2020 | 215 | Jan 27, 2021 | 224 |
| -7.99% | Dec 6, 2012 | 190 | Sep 9, 2013 | 231 | Aug 8, 2014 | 421 |
Volatility
Volatility Chart
The current BNY Mellon New York AMT-Free Municipal Bond Fund volatility is 1.75%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.